Timken Steel Corporation (NYSE:TMST) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday, October 3rd.

Several other research analysts have also recently commented on TMST. TheStreet lowered shares of Timken Steel Corporation from a “c-” rating to a “d+” rating in a research report on Tuesday, June 6th. Cowen and Company reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Timken Steel Corporation in a research report on Monday, June 26th. Zacks Investment Research raised shares of Timken Steel Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, July 18th. Finally, ValuEngine upgraded Timken Steel Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.38.

Timken Steel Corporation (NYSE TMST) traded up 3.31% during midday trading on Tuesday, reaching $17.47. 354,884 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $15.58 and its 200-day moving average price is $15.30. Timken Steel Corporation has a 1-year low of $9.39 and a 1-year high of $23.00. The company’s market capitalization is $776.09 million.

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Several hedge funds and other institutional investors have recently modified their holdings of TMST. BlackRock Inc. raised its holdings in shares of Timken Steel Corporation by 51,982.7% in the first quarter. BlackRock Inc. now owns 4,911,398 shares of the basic materials company’s stock valued at $92,873,000 after buying an additional 4,901,968 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Timken Steel Corporation by 30.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,016,049 shares of the basic materials company’s stock valued at $57,032,000 after buying an additional 699,127 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Timken Steel Corporation by 100.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,452 shares of the basic materials company’s stock worth $17,144,000 after purchasing an additional 557,976 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Timken Steel Corporation by 115.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,039,610 shares of the basic materials company’s stock worth $19,659,000 after buying an additional 556,559 shares during the period. Finally, State Street Corp grew its position in shares of Timken Steel Corporation by 22.0% during the 2nd quarter. State Street Corp now owns 1,933,464 shares of the basic materials company’s stock worth $29,719,000 after buying an additional 348,031 shares during the period. 75.61% of the stock is owned by institutional investors.

Timken Steel Corporation Company Profile

TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. In addition, the Company supplies machining and thermal treatment services, as well as manage raw material recycling programs, which are used as a feeder system for its melt operations.

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